Can Data Grids Deliver STP for Canadian Banks and Asset Managers?. Case Study. Agenda. Who is Hyla Anyway? What Problem are we trying to solve? What is our solution STPGrid? What did we learn from the pilots and early deployment?. Who is Hyla?. Founded 2002 in Ottawa
Can Data Grids Deliver STP for Canadian Banks and Asset Managers?
deliver faster, cheaper,
better IT solutions
“The overall level of preparedness for implementing STP and the of commitment towards institutionalizing STP by 2005 appears low.”
Source:Canadian Securities Administrators
STP Readiness Assessment, Sept 2003
“Even a free software product is not guaranteed to sell to second and third-tier investment firms, many of which are happy with faxing and phoning and are averse to change.”
The cost of improving the process is greater than the benefits..
a new solution and business model is needed!
STP Investment for 2002,
2003 and 2004
Percent who have or anticipate NO INVESTMENT
(STP Readiness Survey)
Make it simple and cheap for IMs
“Middleware is obsolete if there is no middle”
2. We deploy these agents broadly over the Internet, embed them invisibly into the user’s desktop and maintain them remotely “IT is a utility like hydro”
3.We break down existing IT business models and create new ones based on a performance-pricing model “We get paid after we deliver value”
“[Hyla] has created a multi-faceted software platform capable of translating many forms of information into a common format. It sounds esoteric but the platform is proving to be of immense practical value to [customers].”Ottawa Citizen, 9/30/04
3 IMs, 1 custodian
"With my many other duties, it’s really a joy to send trades to our custodian using STPGrid. It’s simply ‘drag and drop’. That’s all there is to it!"
Rita Tiltina, Rogan Investment Management
"STPGrid's approach of using light weight software agents to manipulate and transport information over the internet provides an ideal solution for our STP strategy."
Bill Chow, YMG Capital Management
After improving STP rates for settlement New services will include